Anyone with the ambition to have their own decentralized cryptocurrency exchange is now able to fulfill the dream by installing a crypto exchange plugin on WordPress.
Blockchain venture firm Draper Goren Holm released the first-ever WordPress Cryptocurrency Exchange plugin. The company announced on Wednesday, that the plugin allows anyone to launch their crypto exchange in minutes without any specific knowledge needed:
"Cryptocurrency Exchange" is the first-ever crypto exchange plugin available on WordPress, allowing bloggers, content creators, media companies, entrepreneurs, and others to harness the power of decentralized finance on their sites.
When installed the new plugin allows website users to trade within the long list of various cryptocurrencies. Reportedly, the “Cryptocurrency Exchange” enables website owners to earn fees for the service.
DeFi used to aggregate data
The plugin is based on the application program interface (API) provided by Totle, decentralized finance (DeFi) aggregator, that accumulates data from decentralized exchanges and synthetic asset providers. This means the plugin searches for the best prices listed on decentralized cryptocurrency exchanges and routes orders to these trading platforms.
According to Alon Goren, an author of the plugin and also co-founder of Draper Goren Holm, the crypto exchange plugin was created for the WordPress platform due to its popularity.
WordPress powers 35% of the web and is undeniably the easiest, most customizable solution for anyone to power their websites. Until today, nobody had made it easy to add crypto-trading features to WordPress.
The open-source and customizable crypto exchange plugin is compatible with various mobile or desktop crypto wallets like Metamask, Coinbase Wallet, Opera or Brave. Meanwhile, it does not have any built-in facility to store digital assets.
The latest creation from venture billionaire’s Tim Draper’s firm comes at the moment when the whole decentralized finance industry is on the rise. With an enormous – over 800% – growth of DeFi projects within the last year, the transaction volume across various blockchains is also booming as it reached nearly $8 billion during the past 12 months.
